Module Code: H7NPD
Long Title New Product Development
Title New Product Development
Module Level: LEVEL 7
EQF Level: 6
EHEA Level: First Cycle
Credits: 5
Module Coordinator: MICHAEL BANE
Module Author: MICHAEL BANE
Departments: School of Business
Specifications of the qualifications and experience required of staff  
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Critically evaluate the role and characteristics of entrepreneurship and market adoption of new products/services
LO2 Demonstrate an understanding of feasibility analysis to assess the commercial viability of pursuing the idea past concept stage.
LO3 Be able to develop costing and profit margin estimates to establish financial viability for a new product.
LO4 Demonstrate an understanding of the legal and ethical issues related to the management of innovation and development of new products/services.
LO5 Appreciate the dimensions of technology and knowledge management, specifically research and development projects.
Dependencies
Module Recommendations

This is prior learning (or a practical skill) that is required before enrolment on this module. While the prior learning is expressed as named NCI module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
No recommendations listed
Co-requisite Modules
No Co-requisite modules listed
Entry requirements  
 

Module Content & Assessment

Indicative Content
Opportunity Recognition and Idea Generation
o Creativity and the product concept; o Sources of new ideas, o Idea generation and screening o Techniques for creative problem solving
Feasibility Analysis
o Primary and Secondary Market Research. o Information sources o Industry feasibility o Market Feasibility o Financial feasibility o Target market identification o Routes to market. o Positioning and the marketing mix.
Financial Planning
o Pricing o Sales forecasting o Cashflow analysis o Break even analysis o Start up costing
Finance for the new Product
o Estimation of financial needs. o Sources of finance: o Government funding and supports, o Investors
Business Plan
o Definition, purpose and contents of a business plan. o Writing and evaluating the business plan.
Intellectual Property
o Patent Law and Policy o Copyright Law and Policy o Trademark
Assessment Breakdown%
Coursework100.00%

Assessments

Full Time

Coursework
Assessment Type: Continuous Assessment % of total: 100
Assessment Date: n/a Outcome addressed: 1,2,3,4,5
Non-Marked: No
Assessment Description:
Written Report Learners will be asked to analyse a new product and document the process from idea generation to product launch to include: - 1. Idea generation 2. Idea screening 3. Product, Market, and Financial Feasibility 4. Business Plan 5. Launch Plan
No End of Module Assessment
No Workplace Assessment
Reassessment Requirement
Coursework Only
This module is reassessed solely on the basis of re-submitted coursework. There is no repeat written examination.
Reassessment Description
Repeat assessment will be presented if required as an assessment which will assess all learning outcomes.

NCIRL reserves the right to alter the nature and timings of assessment

 

Module Workload

Module Target Workload Hours 0 Hours
Workload: Full Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture No Description 24 Per Semester 2.00
Tutorial No Description 12 Per Semester 1.00
Independent Learning No Description 89 Per Semester 7.42
Total Weekly Contact Hours 3.00
 

Module Resources

Recommended Book Resources
  • Kathleen Allen. (2016), Launching New Ventures, an Entrepreneurial Approach,, 7th Ed. Cengage Learning Boston.
  • Allen K. (2016), Launching New Ventures, an Entrepreneurial Approach,, 7th Ed. Boston, Cengage Learning.
  • Trott, P.. (2021), Managing technology entrepreneurship and innovation., London: Routledge, Taylor & Francis Group..
This module does not have any article/paper resources
This module does not have any other resources
Discussion Note: